Transaction
Clio Holdings, a portfolio company of Oakland Standard and O2 Investment Partners, has acquired Solid Surfaces. Quarton International acted as the exclusive financial advisor to Clio in arranging the financing for the transaction.
With locations in Buffalo and Rochester, Solid Surfaces is the largest fabricator and installer of quartz, granite, and solid surface countertops in upstate New York. Accredited by the Marble Institute of America and as a member of The Artisan Group, Solid Surfaces is known for having the highest quality product and installation in the area.
Client
Clio Holdings was formed to partner leading regional countertop suppliers and fabricators together providing the capital and operational expertise to upgrade, differentiate and professionalize this highly fragmented industry. Clio has successfully completed three acquisitions and is actively seeking new opportunities in major metro areas across the United States.
Buyer
Oakland Standard works with current owners and management teams to build long-lasting businesses that are leaders in their industry based on the belief that substantial long-term value appreciation can be created with the right combination of capital and strategic resources. Oakland Standard’s core focus is on industrial businesses with less than $10 million of cash flow that are often overlooked or underappreciated by larger investors and where a hands-on approach can lead to meaningful change.
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire a majority interest in lower middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
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